Modine Manufacturing Company $MOD Shares Acquired by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its holdings in Modine Manufacturing Company by 3.5%, acquiring an additional 14,100 shares this quarter, bringing its total to 411,300 shares valued at approximately $31.6 million.
• Modine Manufacturing reported $1.06 earnings per share for the most recent quarter, exceeding analysts' expectations of $0.93, and achieved revenue of $682.80 million, a 3.2% increase year-over-year.
• Analyst ratings for Modine Manufacturing vary, with KeyCorp raising its price target from $150 to $160, while Wall Street Zen downgraded its recommendation from "buy" to "hold."

Gabelli Funds LLC boosted its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,300 shares of the auto parts company's stock after buying an additional 14,100 shares during the period. Gabelli Funds LLC owned approximately 0.78% of Modine Manufacturing worth $31,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MOD. NewEdge Advisors LLC increased its holdings in shares of Modine Manufacturing by 78.5% in the fourth quarter. NewEdge Advisors LLC now owns 4,767 shares of the auto parts company's stock valued at $553,000 after purchasing an additional 2,097 shares during the period. Marshall Wace LLP boosted its position in Modine Manufacturing by 148.7% during the fourth quarter. Marshall Wace LLP now owns 9,700 shares of the auto parts company's stock worth $1,125,000 after purchasing an additional 5,800 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Modine Manufacturing by 51.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,439 shares of the auto parts company's stock worth $283,000 after purchasing an additional 826 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Modine Manufacturing by 214.7% in the fourth quarter. Hsbc Holdings PLC now owns 9,026 shares of the auto parts company's stock valued at $1,059,000 after acquiring an additional 6,158 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Modine Manufacturing by 433.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 215,230 shares of the auto parts company's stock valued at $24,953,000 after acquiring an additional 174,862 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Suresh V. Garimella sold 14,204 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.29, for a total value of $1,992,679.16. Following the sale, the director owned 82,056 shares of the company's stock, valued at approximately $11,511,636.24. This represents a 14.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marsha C. Williams sold 25,761 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $134.77, for a total value of $3,471,809.97. Following the completion of the sale, the director directly owned 120,689 shares in the company, valued at approximately $16,265,256.53. The trade was a 17.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 214,765 shares of company stock worth $27,455,523 in the last quarter. Corporate insiders own 2.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MOD shares. KeyCorp increased their price target on Modine Manufacturing from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $145.67.

Modine Manufacturing Stock Performance

NYSE MOD traded down $6.34 on Friday, hitting $136.10. 655,433 shares of the company's stock were exchanged, compared to its average volume of 1,182,603. The firm's 50-day moving average price is $116.42 and its two-hundred day moving average price is $97.04. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 39.00, a P/E/G ratio of 0.89 and a beta of 2.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.93 by $0.13. The business had revenue of $682.80 million for the quarter, compared to analyst estimates of $653.80 million. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.The company's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 EPS. Modine Manufacturing has set its FY 2026 guidance at EPS. On average, research analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.